33 slides from Abu Dhabi National Oil Company For Distribution's earnings presentation, Feb 3, 2026
Slide 1: Full-Year 2025 Results Presentation
FULL-YEAR 2025 RESULTS PRESENTATION 3 February 2026 ADNOC DISTRIBUTION
Slide 2: Agenda
Agenda 01 02 03 04 KEY ACHIEVEMENTS GROWTH Q4 & 2025 CLOSING AND OUTLOOK STRATEGY UPDATE RESULTS REMARKS ————————— ————————— ————————— ————————— 2 © ADNOC Distribution
Slide 3: Disclaimer
Disclaimer This communication includes forward-looking statements which relate to, among other things, our plans, objectives, goals, strategies, future operational performance and anticipated developments in markets in which operate and in which we may operate in the future. These forward-looking st
Slide 4: Key Achievements & Outlook
KEY ACHIEVEMENTS & OUTLOOK 01 Bader Saeed Al Lamki Chief Executive Officer ADNOC DISTRIBUTION
Slide 5: Committed to 100% HSE: 2025 safety record
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Committed to 100% HSE 2025 safety record 0.064 mmhrs TRIR* ————————————— Zero fatalities ————————————— Zero catastrophic events ————————————— 5 © ADNOC Distribution * Total Recordable Injury / Illness Rat
Slide 6: 2025: double-digit EBITDA and net profit growth driven by record volumes and NFR gross profit
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix 2025: double-digit EBITDA and net profit growth driven by record volumes and NFR* gross profit Underlying Free cashflow Gross profit EBITDA Lorem ipsum Net profit ROCE EBITDA** before WC changes +12% +11%
Slide 7: On track to achieve our targets after positive progress in 2024-25
Key Achievements and Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix On track to achieve our targets after positive progress in 2024-25 2024-28 targets: Investor Day / 2024-30 targets: Investor Majlis +20% in non-fuel transactions vs. target of doubling NFR transactions
Slide 8: Non-fuel retail initiatives making progress in 2024-25
Key Achievements and Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Non-fuel retail initiatives making progress in 2024-25 2024-28 targets: Investor Day +5% in # of convenience stores vs. target of +25% by 2028 vs. 2023 ————————————— +60% in barista-prepared drinks vs.
Slide 9: ADNOC Rewards loyalty programme
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix ADNOC Rewards loyalty programme Over 50% penetration of the UAE vehicle population 2.6+ million ADNOC Rewards members ————————————— +16% year-on-year increase in membership ————————————— >350 thousand loy
Slide 10: Building on strong 2025 progress: the 2026 guidance
Key Achievements and Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Building on strong 2025 progress: the 2026 guidance 60-70 new service stations across three markets of our operations ————————————— 50-60 new EV charging points expanding in a disciplined manner based o
Slide 11: Growth Strategy Update
GROWTH STRATEGY UPDATE 02 Athmane Benzerroug Chief Strategy, Transformation & Sustainability Officer ADNOC DISTRIBUTION
Slide 12: Fuel retail in 2025
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Fuel retail in 2025 Record volumes: retail fuel demand growth momentum sustained +20 new stations UAE: +17, Egypt: +3 ————————————— Contracted ~100 stations in KSA under CAPEX-light DOCO* model, currently
Slide 13: Future-proofing our business in 2025
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Future-proofing our business in 2025 Leveraging UAE network and unlocking attractive margins Disciplined roll-out 1.8X growth* to >400 EV charging points installed across our network in strategic location
Slide 14: Non-fuel retail continues to grow much faster than fuel in 2025
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Non-fuel retail continues to grow much faster than fuel in 2025 +9% non-fuel transactions supported by higher # of fuel transactions, higher conversion from fuel to non- fuel, new offerings in convenience
Slide 15: Non-fuel retail: C-store growth through category management, marketing, technology and loyalty
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Non-fuel retail: C-store growth through category management, focused marketing campaigns, technology and loyalty Reinventing C-store experience a refreshed "OASIS by ADNOC" brand in September 2025 for the
Slide 16: Non-fuel retail: upscaled car wash proposition capturing higher growth
Key Achievements and Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Non-fuel retail: upscaled car wash proposition capturing higher growth Create a one-stop car care destination by leveraging strong car wash, lube change and vehicle inspection centers footprint to enhan
Slide 17: Non-fuel retail: maximizing value through real estate optimization
Key Achievements and Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Non-fuel retail: maximizing value through real estate optimization ~1,150 occupied/awarded properties at the end of 2025 with an increased focus on Food & Beverage outlets ————————————— 40 new propertie
Slide 18: AI & Digital Strategy
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix AI & Digital Strategy More than 20 new AI projects underway across our value chain 18 © ADNOC Distribution
Slide 19: Embedding sustainability in our day-to-day operations
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Embedding sustainability in our day-to-day operations 25% carbon intensity* reduction on track to achieve by 2030 vs. 2021 baseline ————————————— 2024 ESG Report 40+ PV solar service stations energized an
Slide 20: Q4 & 2025 Results
03 Q4 & 2025 RESULTS Ali Siddiqi Acting Chief Financial Officer ADNOC DISTRIBUTION
Slide 21: 2025: double-digit EBITDA and net profit growth
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix 2025: double-digit EBITDA and net profit growth Delivering the highest earnings on record EBITDA and underlying EBITDA*, $m Net profit, $m ———————————————————— ———————————————————— +11% +10% +15% 1,166 1,
Slide 22: Record full-year operating performance
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Record full-year operating performance Growth momentum sustained across all business verticals: fuel and non-fuel retail Fuel volumes, mL Fuel transactions, UAE, m Non-fuel transactions, UAE, m ——————————
Slide 23: 2025 gross profit by operating segment
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix 2025 gross profit by operating segment Aviation +12% total GP record FY performance 5% ————————————— +10% fuel retail GP Corporate (B2B) 20% driven by consistent volume growth ————————————— +14% NFR* GP $
Slide 24: 2025 OPEX and efficiency improvement
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix 2025 OPEX and efficiency improvement Other** Staff costs +6% cash OPEX 14% reflecting corresponding retail business growth Utilities ————————————— 9% ~$7 million Distribution & marketing like-for-like OPE
Slide 25: 2025 EBITDA by operating segment
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix 2025 EBITDA by operating segment Unallocated** +11% EBITDA Aviation driven by strong growth across all businesses, Corporate 8% Retail despite lower impact of inventory gains (B2B) (B2C) ————————————— +15
Slide 26: 2025 cash generation
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix 2025 cash generation $820 million - 79 free cashflow before the effect of changes - 327 in working capital movements - 135 ————————————— 1,147 $700 million* - - 708 2025 dividend supported by visibility i
Slide 27: Closing Remarks
CLOSING REMARKS 04 Bader Saeed Al Lamki Chief Executive Officer ADNOC DISTRIBUTION
Slide 28: Closing remarks
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Closing remarks Maintaining strong earnings Efficient capital allocation Strong 2026 outlook momentum in 2025 and attractive distribution ————————————— ————————————— ————————————— 17 new stations in the U
Slide 29: Q&A
Key Achievements & Outlook Strategy Update Q4 & 2025 Financial Results Closing Remarks Appendix Q&A Bader Saeed Al Lamki Ali Siddiqi Athmane Benzerroug Chief Executive Officer Acting Chief Financial Chief Strategy, Transformation Officer & Sustainability Officer © ADNOC Distribution
Slide 30: ADNOC Distribution Q4 & 2025 Results Presentation
ADNOC DISTRIBUTION Q4 & 2025 RESULTS PRESENTATION IR@ADNOCDISTRIBUTION.AE ADNOC DISTRIBUTION
Slide 31: Operating performance
Key Achievements & Outlook Strategy Update Q4Q1 & 2024 2025 Financial Financial Results Results Closing Remarks Appendix Operating performance million liters Q4 2025 Q4 2024 YoY (%) 2025 2024 YoY (%) 2025 15.7bn Retail (B2C) 2,884 2,719 6.1% 11,042 10,349 6.7% Commercial (B2B) 1,123 1,258 -10.7% 4,6
Slide 32: Financial performance
Key Achievements & Outlook Strategy Update Q4Q1 & 2024 2025 Financial Financial Results Results Closing Remarks Appendix Financial performance $m Q4 2025 Q4 2024 YoY (%) 2025 2024 YoY (%) 2025 Revenue Gross profit 2,575 504 2,406 438 7.0% 15.1% 9,773 1,891 9,653 1,692 1.2% 11.7% $1,166m EBITDA Gross
Slide 33: Investor relations resources
Key Achievements & Outlook Strategy Update Q4Q1 & 2024 2025 Financial Financial Results Results Closing Remarks Appendix Investor relations resources Contact us at: 2024 Your Feedback Annual Report Matters! ir@adnocdistribution.ae or ask ARIF, your Investor Relations AI assistant 2024 Available in m